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To: Petrol who wrote (146809)	1/29/2002 12:15:31 PM
From: Sully-	Respond to of 436258

IBM names Palmisano to replace Gerstner as CEO NEW YORK, Jan 29 (Reuters) - International Business Machines Corp. (NYSE:IBM - news) on Tuesday named Samuel Palmisano chief executive officer effective March 1 to replace to Louis Gerstner. Gerstner, whose contract expires on March 1 when he turns 60, will remain chairman through 2002. He is widely credited with turning the computer maker around in the 1990s. Palmisano has been expected to follow in Gerstner's footsteps since Palmisano was named president and chief operating officer in mid 2002. He retains his president title, IBM said. IBM shares were off 4 percent, or $4.36 at $103.79 in midday New York Stock Exchange trading. biz.yahoo.com